Nuvera Communications, Inc. reported a total operating revenue of $17.88 million for the first quarter of 2025, reflecting a 5.52% increase from $16.95 million in the same period of 2024. The growth was primarily driven by increases in governmental support revenues, data services, and other revenue streams, although it was partially offset by declines in voice and video service revenues. Net income for the quarter reached $1.03 million, a significant increase of 39.80% compared to $735,985 in the prior year, attributed to higher governmental support and data service revenues, despite rising interest expenses.
In terms of operational metrics, Nuvera experienced a decline in access lines, which fell by 14.73% to 11,157, and video customers decreased by 10.08% to 7,214. Conversely, broadband customers increased by 4.46% to 34,092, indicating a shift in customer preferences towards data services. The company’s capital expenditures for the quarter were $8.64 million, down from $11.09 million in the previous year, as it continues to invest in its fiber network expansion.
Strategically, Nuvera has been focusing on its fiber network initiative, which aims to enhance broadband access in underserved areas. The company confirmed eligibility for Consumer Broadband-only Loop Support (CBOL) funding, which is expected to provide $3.9 million annually to support its fiber construction efforts. As of March 31, 2025, Nuvera had upgraded 683 passings with fiber services, contributing to a total of 46,022 passings upgraded to date.
The company’s financial position remains stable, with a working capital surplus of $21.62 million as of March 31, 2025, compared to $16.60 million at the end of 2024. This surplus is primarily due to elevated inventory levels to support the fiber initiative and a rescheduling of principal payments under its new credit facility with CoBank. Nuvera's total leverage ratio stood at 5.01, within the acceptable limits of its loan agreements, which allows for continued investment in its infrastructure while managing debt obligations. Looking ahead, Nuvera plans to continue its focus on expanding its fiber network and enhancing service offerings to meet customer demands.
About Nuvera Communications, Inc.
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